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Omagine, Inc.
Symbol:  OMAG


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Business Summary: Omagine, Inc., through its subsidiaries, operates as a real-estate development, entertainment, and hospitality company primarily in the Middle East and North Africa.
 
Address
  350 Fifth Ave.
  Suite 1103
  New York , NY 10118
  Phone: 212-563-4141
  Fax: 212-563-3355
  Website: http://www.omagine.com
Transfer Agent
  Continental Stock Transfer & Trust Co.
Employees:  3
ShareHolders:  826
Founded:  1978
Domicile:  Delaware
 
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Omagine, Inc.
Symbol:  OMAG


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Omagine, Inc., through its subsidiaries, operates as a real-estate development, entertainment, and hospitality company primarily in the Middle East and North Africa. It focuses on the development, building, ownership, and operations of a tourism and residential real-estate development project, known as Omagine project, in the Sultanate of Oman. The company was formerly known as Alfa International Holdings Corp. and changed its name to Omagine, Inc. in June 2007. Omagine, Inc. is based in New York, New York.
History:  INCORPORATED in Delaware Oct. 8, 2004 as Alfa International Holdings Corp., and on May 23, 2005, merged Alfa International Corp., a New Jersey concern incorporated on Aug. 10, 1978. Name changed to Omagine, Inc. June 13, 2007. October 11, 2005, issued 16,284,278 Common shares to acquire the outstanding shares of Journey of Light, Inc., a privately held company incorporated in 2003.
 
Subsidiaries:
Journey of Light, Inc.
 
 
Capital Expenditures, thousand. US Dollars
  Year  Amount
  2009  2
  2008  0
  2007  26
 
 
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Omagine, Inc.
Symbol:  OMAG


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Management
OfficersPosition
 Frank J. DrohanChairman, President, Chief Financial Officer & Chief Executive Officer
 William  HanleyChief Accounting Officer & Controller
 Charles P. KuczynskiSecretary

Directors
 Salvatore J. Bucchere
 Frank J. Drohan
 Kevin O'C. Green
 Charles P. Kuczynski
 Louis J. Lombardo
 
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Omagine, Inc.
Symbol:  OMAG


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Capitalization as of 03/31/2010:
 
 Authorized SharesOutstanding Shares
Common $0.001 par50,000,00011,034,157
Preferred $0.001 par850,000None
 
LONG TERM DEBT: None.
 
Common $0.001 par
 
Stockholders:  12/31/2009, 826.
Transfer Agent:  Continental Stock Transfer & Trust Co.   New York , NY
 
OTC Bulletin Board( Primary): OMAG
 
ExchangeYearHighLow
OTC Bulletin Board20090.50000.0500
OTC Bulletin Board20081.45000.2500
OTC Bulletin Board20072.95000.0800
OTC Bulletin Board20060.70000.1047
OTC Bulletin Board20051.50000.2500
 
DIVIDENDS: Common $0.001 par: None.
 
 
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Omagine, Inc.
Symbol:  OMAG


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Annual Report
 
Income Statement
  20092008
EXPENSES
Selling, General and Administrative(1,083,692)(1,308,003)
Interest Expense(30,841)(7,769)
Interest Income1248,142
Net Income (Loss)(1,114,409)(1,307,630)
SUPPLEMENTARY INFO
Operating Income (Loss)(1,083,692)(1,308,003)
Basic Eps-continuing Operations(0.12)(0.14)
Diluted Eps-continuing Operations(0.12)(0.14)
 
Balance Sheet
  20092008
ASSETS:
CURRENT ASSETS
Cash155,82149,511
Prepaid Expenses and Other Current Assets-40,774
Total Current Assets155,82190,285
NON CURRENT ASSETS
Leasehold Improvements866866
General Plant17,80017,800
Office and COmputer Equipment131,412129,941
Furniture and Fixtures15,95115,951
Accumulated Depreciation(156,968)(150,719)
Other Assets13,60613,749
Total Assets178,488117,873
LIABILITIES:
CURRENT LIABILITIES
Accounts Payable455,724356,368
Accrued officer's Payroll327,00072,500
Accrued Expenses and Other Current Liabilities27,7316,345
Convertible Notes Payable and Accrued Interest313,464238,728
Due Officers and Directors10,15326,335
Total Current Liabilities1,134,072700,276
SHAREHOLDERS' EQUITY
Common Stock-par Value10,6619,278
Additional Paid in Capital18,030,17617,290,331
Retained Earnings (Deficit)(18,996,421)(17,882,012)
Total Shareholders Equity(955,584)(582,403)
Total Liabilities & Shareholders Equity178,488117,873
 
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Omagine, Inc.
Symbol:  OMAG


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Interim Report   
 
Data Not Available
 
 
 
 
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Omagine, Inc.
Symbol:  OMAG


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Pro Forma Report   
 
Data Not Available
 
 
 
 
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Omagine, Inc.
Symbol:  OMAG


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Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2009   1Nil
  2009   2Nil
  2009   3Nil
  2009   Full Year Nil
  2008   1Nil
  2008   2Nil
  2008   3Nil
  2008   4Nil
  2007   330,000
  2007   Full Year 30,000
  2006   230,000
  2006   3100,000
  2006   450,000
  2006   Full Year 1,180,000
  2005   240,000
  2005   3110,000
  2005   4270,000
  2005   Full Year 270,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2010   1(310,000)
  2010   2(300,000)
  2009   1(370,000)
  2009   2(200,000)
  2009   3(260,000)
  2009   Full Year (1,110,000)
  2008   1(250,000)
  2008   2(310,000)
  2008   3(230,000)
  2008   4(510,000)
  2008   Full Year (1,310,000)
  2007   3(310,000)
  2007   4(390,000)
  2007   Full Year (1,040,000)
  2006   Full Year (770,000)
  2005   Full Year (6,050,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2010   1(.03)
  2010   2(.03)
  2009   1(.05)
  2009   2Nil
  2009   3Nil
  2009   4(.03)
  2009   Full Year (.12)
  2008   1(.05)
  2008   2(.05)
  2008   3Nil
  2008   4(.05)
  2008   Full Year (.15)
  2007   1Nil
  2007   2(.05)
  2007   3(.05)
  2007   4(.05)
  2007   Full Year (.15)
  2006   1(.10)
  2006   2.05
  2006   3(.05)
  2006   4(.05)
  2006   Full Year (.15)
  2005   1(.10)
  2005   2(.05)
  2005   3(.05)
  2005   4(1.95)
  2005   Full Year (1.95)
 
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